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Stop milking Nigeria, it will soon dry up, Obi of Onitsha tells politicians

Published

3 weeks ago

December 3, 2024

Obi of Onitsha, His Royal Majesty, Nnaemeka Achebe

Stop milking Nigeria, it will soon dry up, Obi of Onitsha tells politicians

ABUJA- THE Obi of Onitsha, His Royal Majesty, Nnaemeka Achebe, has charged the political class and those in leadership positions to put public interest above personal and individualistic interest if Nigeria as a country must grow beyond its current position.

Bold Leap which had a gathering of Nigerians made up of former Presidents, ex- Presidents of the Senate, past and present senators, and former governors was an autobiography of Senator Anyanwu with 600 pages, three parts, and 19 chapters.

President Bola Tinubu was represented by the Minister of Special Duties and Inter-Governmental Affairs, Zaphaniah Jisalo, the Chairman of the event and former President Olusegun Obasanjo was represented by former President of the Senate, Senator David Mark; former President Goodluck Jonathan was represented by ex-President of the Senate, Senator Anyim Pius Anyim, the Emir of Kano, Sanusi Lamido Sanusi, Jaja of Okpobo, former Senators, former Anambra State governors, Chris Ngige and Peter Obi, Pan Niger Delta Forum, PANDEF’s spokesperson, Dr. Obiuwevbi Ominimini, Senators, Captains of Industry, among others were present at the event.

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The Obi of Onitsha said: “Should we continue milking the cow, it will die. In this country, since independence, we’ve been talking and talking and talking and talking and talking. I think it’s time we begin to think about doing something because we have two alternatives. Keep milking the cow until it dies, because of our sectional interests, which we tend to protect, and our personal interests. People go into public service, not to serve the public, but to serve their interests.

“Either we keep doing that and milk the cow to death, or we do the opposite and place Nigeria above everything else.

“And I would like to add that time is not too much in our favour. It’s either we milk the cow to death very, very fast, or we can turn around the country very, very fast.”

Speaking on “How Do We Fix Nigeria-System, Structure, Institutions and Leadership?: A Panel Discussion,” former Ekiti State governor, Dr. Kayode Fayemi, who was one of the four panellists, tongue lashed the political class, describing the current political and governance system as operational in Nigeria as “electorialism” and not democracy.

Fayemi, who served as Minister of Solid Minerals during the administration of President Muhamnadu Buhari, said: “On the systemic issues we have to confront, beyond going into the nature of the system we are operating, liberal democracy, parliamentary or presidential system, who cuts the substance of the question you ask? For me, the excuses are always going to be legit, why we are not operating right as a country. Is it the system, the institutions, or the leadership, or in fact, some would even say colonialism, because we must provide our own foundation. That’s why we have found ourselves in that situation.

“We have been fighting to forge what in political science we call elite consensus, but we need to go beyond elite consensus to national consensus and how do we get to national consensus without asking the national question, which is, who are we? What do we want for ourselves? Where do we want the country to be in 10 years, or 20 years, or 50 years? Every country that wants to really develop starts with a national vision and mission.”

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Briggs, who advocated the restructuring of the political system, said: “We need to restructure our political system. We need to restructure the people we put in politics to represent us. And we have a problem with that. The problem originates from the Independent National Election Commission, INEC. INEC has let Nigerians down.

“I’m one of those Nigerians that INEC has let down. When you have a voters card and you cannot vote, it means that you’re not choosing the people who are representing you. Therefore, they owe you nothing. We are at the very worst stage that we can be as a nation. Patriotism is not the national anthem. A lot of people can’t even sing all the verses of either of the national anthems.

“So, patriotism is about what you do for your country, but specifically what it is that your country is also doing for you because you are. We’re all Nigerians. We’re not Ghanaians. We’re not British. We’re Nigerians. So, a country is to give and the citizens are also to give.”

She also described as a great error that activists and those who fought for democracy left the politicians to run the show.

“So if we are to succeed, then we must, as a people, as the electorate, make the decision as to who are these people that we are going to put in the position of power that we are investing in them to hold for us in trust, to make the right decisions and make the right policies for Nigerians. I have just one example which will tell us where we need to go.”

On his part Senator Enyinnaya Abaribe, who stressed the need to have the right people in the right place, decried the weak institutions, citing a case where a public officer who was prosecuted for embezzlement only received a slap in the wrest.

He said: “Last week, the former head of the police pension fund embezzled, according to the court, N23.2 billion. He was tried by the court and the court fined him N323 million and then imposed a two-year sentence on him for which he also gave, at the same time that they imposed that two-year sentence, a fine of N250,000, so that he can go free. So, someone embezzles N23 billion, then he wakes up and pays back N315 million and he works free to now take N22 billion and walk away.

“Now, we are talking about an illegal institution versus the person who was imposing that sentence. So, as far as I’m concerned, if we don’t have the right people, we will never get an institution right. And that is the only way we can go forward.”

On his part, Dr. Aminu Gamana, who noted that the country needed value reorientation, said: “We need societal reorientation in order to get things right. Otherwise, you will conduct elections every four years, people will come out and collect indomie or spaghetti and vote for someone who does not care about them.”

Stop milking Nigeria, it will soon dry up, Obi of Onitsha tells politicians

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CBN fines any bank N150m hoarding cash

Published

22 minutes ago

December 22, 2024

Trends Admin

CBN fines any bank N150m hoarding cash

The Central Bank of Nigeria (CBN) has imposed a N150 million fine on a commercial bank for failing to dispense cash through its Automated Teller Machines (ATMs).

This action follows an unannounced inspection by the apex bank, which uncovered deliberate cash hoarding and ATM manipulation by the erring bank.

Sources within the CBN revealed that the sanctioned bank was caught disabling its ATMs, thereby denying customers access to their funds while prioritizing cash disbursements to select VIP clients.

A staff member of the CBN stressed that the apex bank would not tolerate such practices. “The Bank will not spare any Deposit Money Bank (DMB) caught in the act of hoarding cash or found favoring VIP customers over other customers,” the official stated.

To this end, the CBN has intensified spot checks on banks nationwide, exposing various illicit cash-handling practices by some unscrupulous financial institutions.

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For now, the CBN is imposing financial penalties on defaulting banks. However, according to the official, the next phase of enforcement will include publicly naming and shaming offending banks and prosecuting implicated bank officials.

“This fine is just the beginning. The CBN is determined to hold banks accountable for any actions that undermine public trust and the integrity of the banking system,” the official added.

Despite the ongoing challenges, the CBN has reiterated its commitment to promoting cashless banking in the country. Another senior official disclosed that the apex bank’s management is intensifying efforts to encourage the use of electronic channels for transactions.

“The frustration faced by account holders is undermining our push for a cashless economy. We are doubling down on initiatives to restore public confidence in electronic banking solutions,” the official said.

CBN fines any bank N150m hoarding cash

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Three days to Christmas, food prices, transport fares hit the roof

Published

39 minutes ago

December 22, 2024

Trends Admin

Three days to Christmas, food prices, transport fares hit the roof

According to the Universal Declaration of Human Rights ,UDHR, Article 25(1), everyone has the right to standard of living adequate for their health and well-being, which includes access to food, clothing, and housing.

Similarly, the International Covenant on Economic, Social and Cultural Rights ,ICESCR, Article 11 emphasizes the right to an adequate standard of living, including sufficient food.

Furthermore, the Covenant recognizes the fundamental right to be free from hunger and advocates for measures both individual and international to eliminate hunger.

It is widely acknowledged that inadequate food availability can lead to health issues, as food is as essential to health as air is to breathing.

The situation is exacerbated by the rising costs of healthcare, which are increasingly out of reach for many due to ongoing inflation.

Difficult situations

In Nigeria, harsh economic conditions are forcing households into difficult situations, with many going to bed hungry due to skyrocketing food prices. With Christmas just three days away, our correspondents visited local food markets in Lagos and Abuja to see how citizens are coping with the rising cost of goods and services.

In the locations, buyers and sellers expressed their frustrations over the increasing prices of food items.

At Agric Market in Ikorodu, Mummy Somto, lamented that she had never witnessed such high prices in her lifetime.

She noted that a chicken that cost N15,000 last year now sells for N35,000, with only older layers available for N15,000.

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“What will that do for my family? We have never seen it like this in Nigeria. I hope this hope is the hope,” she said.

At Mile 12 International Market, trucks filled with perishable goods such as tomatoes, peppers, onions, cucumbers, potatoes, carrots, cabbages, and other vegetables were lined up for unloading while eager buyers waited nearby.

When asked about the high prices despite the abundance of food, truck owner Alhaji Shehu, explained that the situation arose from expenses related to diesel, farm security, police and military checkpoints before reaching Lagos.

He mentioned spending between N500,000 and N800,000 per truck, which inevitably raises prices.
“This is our business, and we are not pleased with the high costs either. If I sell my goods, I still need to buy what I don’t sell. It’s suffocating us. I also commend the buyers,” Shehu added.

Bags of rice

Mrs. Bukky Osagie, a rice vendor at Mike 12, shared her concerns about escalating prices: “Last December, a bag of rice was between N65,000 and N70,000. Today, it’s from N95,000 depending on the brand. Traders are exhausted. People are buying half bags because they can’t afford full ones. They also need to buy additional items. How do people survive this trend? This has to stop if the government truly cares for its citizens.”

At Daleko Market, Mrs. Hannah, was seen pricing vegetable oil when she declared, “Whether the devil likes it or not, we will celebrate with our families and share love during this season. We will just have to adjust our spending according to our means.”

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As of the time of filing this report, a 25-liter container of vegetable oil was selling for between N86,000 and N95,000 depending on the brand.

Garri was priced at N56,000, while Ijebu Gaari was N58,000.

A carton of satchel tomatoes ranged from N8,800 to N9,200 while a pack of spaghetti cost N23,000.
70 grams of noodles were priced between N9,800 and N10,500. A roll of curry or thyme sold for N550 each, while small bulbs of onion reached as high as N200, making them almost unaffordable for many.

Christmas cheer

In Abuja, soaring food prices and steep transportation costs are casting a shadow over Christmas celebrations for many families.

The cost of essential holiday items, such as poultry, has surged, with chickens priced between ¦ 15,000 and ¦ 25,000, and turkeys reaching up to ¦ 130,000 in some markets.

Sunday Vanguard learned that rising feed prices, transportation costs, and supply chain disruptions are driving these increases.

Additionally, a 50-kg bag of rice now costs between ¦ 94,000 and ¦ 125,000, a significant leap from previous months.

Transportation fares have also skyrocketed, with transport fare from Abuja to major cities such as Lagos, Port Harcourt, and Enugu increasing from 15 percent to 35 percent in the past month.

For instance, a trip from Abuja to Lagos by road, which previously cost ¦ 28,000–¦ 35,000, now ranges between ¦ 46,500 and ¦ 60,000.

Three days to Christmas, food prices, transport fares hit the roof

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Three Ogun varsity students die auto crash

Published

58 minutes ago

December 22, 2024

Trends Admin

Ogun State Command Police Public Relations Officer, SP Omolola Odutola

Three Ogun varsity students die auto crash

The Police Command in Ogun State has confirmed the death of three university students in a single-vehicle accident on the Ilisan-Ago-Iwoye Road.

In a statement issued on Saturday, the command’s spokesperson, SP Omolola Odutola, revealed that the victims were suspected to be students of Olabisi Onabanjo University (OOU), Ago-Iwoye.

The incident, which occurred around 3:30 p.m. on Friday, involved an Opel car with registration number AAA-126 HE. The vehicle was reportedly driven by Adekunle Adebiyi, a resident of 5 Sunmibare Street, Awa Ijebu.

“The accident was caused by overspeeding, leading to the driver losing control and the vehicle flipping into the bush,” Odutola explained.

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She further disclosed that one male passenger, whose identity is yet to be confirmed but is believed to be an OOU student, died on the spot. His body was taken to the mortuary at General Hospital, Ijebu Ode.

“Two female students from Olabisi Onabanjo University — Dada Oluwanifesimi, 18, and Miracle Daniel, 19 — were rushed to Love and Care Hospital but sadly passed away while receiving treatment,” she added.

The vehicle involved in the crash has been recovered and is now in police custody.

Odutola assured the public that further updates on the tragic incident would be provided and advised motorists to adhere to traffic regulations, particularly during the festive season.